"Lies and half truths" from Pensions Minister

13/03/2008

I have just read the article by Mike O'Brien of DWP and cannot
believe the scam...

1) He lawds the new Personal Accounts, which will not be introduced until
2012 with an opt-out - and then brags that this Government has (not will)
transformed "both today's and tomorrow's pensioners"! What rot.

2) He adds "of course, investing in a pension will never be risk free". It
certainly is for MPs and all Govenment employees, central and local!

3) He also brags about the Pension Protection Fund to safeguard company
schemes - these should have been set "in trust" at the outset so they could
not be wiped out by bankruptcy. It was not the "unscrupulous pension
scheme's" fault, but the negligent drafting of the Pension Acts coupled
with the Government's lies about their security.

 

Michael Rose, Treasurer
Devon Pensioners' Action Forum